Kx, a leader in high-performance database and time-series analytics, announces that IEX, a high-growth equity trading venue dedicated to investor protection, has selected its Kx software platform to provide trade surveillance and analytics. The system will audit billions of market data records daily, with real-time and historical market abuse reporting capabilities.
Kx for Surveillance is used by exchanges, regulators and brokers to detect trading anomalies that may indicate disorderly or prohibited trading across a range of asset classes. The application is built on top of the Kx for Streams architecture, which is powered by the high-performance database kdb+. It is capable of dealing with both structured and unstructured data, forming a key part of an organisation’s Big Data strategy. In addition to recent implementations such as that with the Australian Securities & Investments Commission, Kx for Surveillance recently won Market Surveillance System of the year at the Futures and Options World (FOW) Asia awards.
Gerry Buggy, executive at Kx, said: “Over the past decade Kx has worked with electronic trading platforms to help them meet the challenge of managing rapid growth in US market data volumes. That experience, combined with our global surveillance teams’ domain knowledge, has proved to be a powerful combination. IEX sought a solution that offered the performance associated with high speed trading environments and the flexibility to adapt as their business and regulatory requirements grow. These are two of the core strengths of Kx which we look forward to delivering for IEX.”
John Schwall, Chief Operating Officer and Co-Founder of IEX, commented: “As a market centre that set out to become a critical part of the U.S. National Market System, we recognized the need and responsibility to maintain a fair and orderly trading environment for all of our participants. We wanted a surveillance system that had the ability to run sophisticated alerts designed to monitor and preserve IEX market integrity and orderly trading while allowing us to quickly identify and adapt whenever potentially suspicious patterns emerged. We also wanted a system that could easily integrate with the IEX architecture and could scale to handle the increasing data volumes of the future. In addition to the surveillance function, the system immediately strengthens our visual analytics capabilities and our ability to provide value-added data services for our clients.”
Brian Conlon, CEO of Kx, commented: “We are pleased with IEX’s decision to select Kx as its platform for market surveillance. IEX, as a new entrant into the market, had the entire range of competing solutions to select from. Their choice of Kx reinforces our view that the solution is ideally suited to manage the surveillance needs of the future.”
Kx has been the software leader for complex analytics on massive-scale streaming data for over two decades. The Kx technology is an established and trusted standard for trading, surveillance and research in financial services. Kx has emerged as the elegant, integrated solution to the analytic needs of the pharma, retail, utilities and high-tech manufacturing industries; scaling effortlessly to the data challenges of the Internet of Things.
With more than 100 major global corporations as clients, Kx works closely with its user group to drive and prioritize its research and development so that it delivers the most innovative software, tools, solutions and services to solve its customers’ business needs. As the Internet of Things creates never before seen volumes of structured machine data, new industries are embracing Kx technology’s proven ability to store and analyze data in real-time.
Kx is a division of First Derivatives plc. Listed on the London Stock Exchange [FDP:LN] First Derivatives is a specialist software and consulting organization with an uninterrupted track record of customer success and profitable growth since it was listed in 2002.
For more information about Kx, please visit www.kx.com.
About First Derivatives
First Derivatives plc (FD) is a global technology provider whose services and solutions are used by many of the world’s largest companies. In addition to Kx, the FD Group includes MRP and Capital Markets Consulting, CMC.
MRP is a global provider of marketing intelligence, software and services. MRP drives sales pipelines and delivers the insights clients need to more effectively sell to their key target markets. CMC supports financial institutions in designing, developing, implementing and supporting a broad range of mission-critical data and trading systems across front, middle and back-office operations. Services are provided both on-site and from its strategically located Near Shore centers.
FD is quoted on the London Stock Exchange (FDP:LN) and has had double-digit revenue growth every year since it was incorporated in 1996. FD has over 1,500 employees around the world, including in London, New York, Tokyo, Singapore, Sydney, Palo Alto, Toronto, Ottawa, Belfast, Dublin, and its headquarters in Newry.
For more information, please visit www.firstderivatives.com.
This article is modified from a press release issued by FD on 2 October 2014.